Emami, Killer Jeans sue Roshans
Mumbai, December 11Emami and Killer Jeans company have filed separate criminal complaints in a court of magistrate against film maker Rakesh
Roshan, his actor son Hritik and their firm Filmkraft Productions (India) Pvt Ltd for allegedly violating agreements on displaying the products of the company in their latest film “Koi Mil Gaya”.

File photo of Hritik Roshan (left) and Rakesh Roshan

Hyundai rolls out fifth lakh vehicleIrrungattukottai (Chennai), December 11
Hyundai Motor India today rolled out its fifth lakh car from its manufacturing facility at Irrungattukottai near Chennai. It was a happy moment for Korean Ambassador S.D. Kwon, who was the chief guest on the occasion.

BenQ launches mobile setsChandigarh, December 11
BenQ (formerly Acer), the largest mobile phone manufacturers of Taiwan and sixth largest worldwide, has arrived.

Visitors inspect the inside of the latest Rolls Royce car during the opening of a motorshow in Dubai on Thursday. — AFP

Shahabad sugar mill adjudged the bestKurukshetra, December 11
Shahabad Sugar Mills, in the district has not only won the first award in finance management at the national level but also declared the Best Cooperative Sugar Mills of the country in other recovery zone for 2002-2003.

Union Bank fixes
benchmark PLRMumbai, December 11
The Union Bank of India (UBI) has become the first bank to fix the benchmark prime lending rate (PLR) at 10.75 per cent, effective January 1, 2004, even as other banks, including the State Bank of India, are reviewing their PLR to be implemented from next year.

Air-India flies to ChinaNew Delhi, December 11 In another action which will go a long way in further improving relations between India and China, Air- India (A-I) today launched its first flight to Shanghai.In video: (28k,
56k)

BSNL international roaming in JanuaryJalandhar, December 11
Announcing the new year bonanza for BSNL mobile subscribers, Mr Prithipal Singh, CMD of BSNL, today revealed that the mobile subscribers of the company would get international roaming facility by the next month.

HC relief to Dupont in trademark caseNew Delhi, December 11
Dupont India Ltd, manufacturers of ‘Algrip’, the lastest technology herbicides used for weeding out broad leafs from the wheat crop, today got a major relief from the Delhi High Court, which restrained another company from using similar sounding trademark ‘Higrip’ that could mislead its customers.

CORPORATE
NEWS

Pfizer to close Chandigarh plantNew Delhi, December 11Pfizer Ltd has filed an application under Section 25 - O of the Industrial Disputes Act, 1947, with the Government of Maharashtra, for the closure of its bulk drug plant at Chandigarh from February 9 next.

Mumbai, December 11
Emami and Killer Jeans company have filed separate criminal complaints in a court of magistrate against film maker Rakesh Roshan, his actor son Hritik and their firm Filmkraft Productions (India) Pvt Ltd for allegedly violating agreements on displaying the products of the company in their latest film “Koi Mil Gaya”.

The complaints were filed on December 9 by the two companies in the court of Additional Chief Metropolitan AM Garde at suburban Andheri. The cases will come up for hearing on February 7, lawyer for the complainant companies Ashok Sarogi told PTI here today.

The complainants have alleged that the Roshans had committed criminal breach of trust and cheating by going back on their agreements to show the products of the companies in some shots of the film.

It was agreed between the parties that for a certain consideration, the film would be shot in Mall Road, a hill station in the North, and in the background the products of the company would be displayed.

Emami alleged that the Roshans had agreed to shoot a scene with the heroine Priety Zinta holding a company product in a beauty parlour and they also promised to show close shots of the article held by her. In return, the company had paid Rs 12 lakh in instalments.

Similarly, Killer Jeans company alleged that the Roshans had agreed to shoot a scene in which the hero Hritik would be picturised wearing the Killer Jeans.

However, both companies claimed that the shots were not found in the movie on its release in theatres all over India recently. They charged the Roshans with cheating.

There is a clause in the agreement which provides for arbitration. But this can be invoked in a civil case and not when criminal action is being sought, lawyer Sarogi said.

A spokesman for Rakesh Roshan said they have not received notices from the court and would file a reply when the cases come up for hearing. —
PTI

Irrungattukottai (Chennai), December 11
Hyundai Motor India today rolled out its fifth lakh car from its manufacturing facility at Irrungattukottai near Chennai. It was a happy moment for Korean Ambassador S.D. Kwon, who was the chief guest on the occasion.

Speaking at the roll-out ceremony, Mr J.L. Kim, Managing Director, Hyundai Motor India, said first half-a-million units took us five years, but the company will achieve the one million mark in the next three years.

To achieve the mark, the company is investing $220 million to expand its production facility. While its assembly line capacity will increase to 1,50,000 units per annum, at present, to 2,50,000 units by mid-2004, the engine and transmission facility will also be enhanced to 3,00,000 units from the current 1,50,000.

With a market share of close to 20 per cent in the domestic market, HMI is now extending its reach to global markets. The company was designated as Hyundai Motor Company’s global export hub for small cars in 2003 and has already made inroads into Europe .

Over the next 12 months, the company plans to add two new products – Getz in the sub-compact car and Elantra in the mid-luxary segment— to its current portfolio of Santro, Accent, Sonata and Terracan.

Hyundai Motor India has targeted to hike its exports by 300 per cent and domestic sales by 40 per cent in the next three years, Mr B.V.R. Subbu, President, HMI, said. At present the company has exported 9 per cent of the total half-a-million units but targeted to increase it by more than three-fold by 2006, he said.

Regarding the new models in the offing, Mr Subbu said updating of vehicles would continue. “At present, the company is concentrating on safety measures. We are already ahead as per the mandated safety norms in the country but still lot has to be done yet in this area,” he said.

When asked about the impact of Golden Quadrilateral project on the car manufacturers, Mr Subbu said the sales were bound to increase and service centres would be increased from the present 400 to 1,000 to reach at the grassroots.

Chandigarh, December 11
BenQ (formerly Acer), the largest mobile phone manufacturers of Taiwan and sixth largest worldwide, has arrived. The company officials are on a three-day visit to Punjab to launch a slew of handsets from BenQ stables.

BenQ, an acronym for Bringing Enjoyment and Quality to Life, forayed into the handset market last month when it launched two mobile phones. After targeting the metros, the company plans to launch three more GSM mobile phones. The company’s portfolio now includes two mono bar models and three clam shell models in the middle to high segment.

Ashish Bakshi, Country Head, India Operations, while talking exclusively to The Tribune, says that digital lifestyle devices have been the thrust area of the company. “We plan to grab 5 per cent of the handset market share by March 2004. India is the fifth country after Taiwan, China, Malaysia, Thailand (in that order) that has seen mobile boom,” he says.

Ashish avers that it is the youth brigade that is willing to give new features and technology a shot and because of them the industry is getting the necessary impetus. “That is why the youth segment is our target area. They are willing to try out new products and are buying leaders,” he says.

Talking on the recent boom in the mobile telephony segment, he says it has been driven by everyone’s urge to get connected and huge replacement market that has popped up. “In fact, it is a revolution that was waiting to happen,” he opines.

According to Ashish, the grey market is on its way down and the CDMA market in India has not matured till now. “People are looking towards structured wide distribution of network. We place the Northern region on a high priority list.”

Subsequent to the launch of these five models in the GSM segment ranging between Rs 5,000 and Rs15, 000, BenQ will also launch handsets in the CDMA segment. The company plans to invest Rs 10 crore to promote the brand and achieve target market share.

Kurukshetra, December 11
Shahabad Sugar Mills, in the district has not only won the first award in finance management at the national level but also declared the Best Cooperative Sugar Mills of the country in other recovery zone for 2002-2003.

Shahabad Cooperative Sugar Mills, Chairman, Abhilaksh Lakhi said this was a mater of pride not only for Shahabad but for the state also and both these awards were declared recently by the National Federation of Cooperative Sugar Factories, New Delhi, while announcing the Efficiency Award for 2002-03.

The total profit of the mill till now was Rs 28 crore while the sugar recovery of the mill for 2002-03 had been highest after expansion. This had been achieved by improving the technical efficiency of the mill, he added.

The mill was crushing 60-65 lakh quintals of sugarcane during the last three crushing seasons.

This was the highest crushing among the cooperative sugar mills of the North.

The Shahabad mill had achieved special technical efficiency in the 2002-03 in its operation by using the modern equipments based on new techniques.

Mumbai, December 11
The Union Bank of India (UBI) has become the first bank to fix the benchmark prime lending rate (PLR) at 10.75 per cent, effective January 1, 2004, even as other banks, including the State Bank of India, are reviewing their PLR to be implemented from next year.

The board approved yesterday a proposal for fixing benchmark PLR at 10.75 per cent, 0.25 per cent less than current PLR of 11 per cent, UBI Chairman and Managing Director V Leeladhar told reporters on the sidelines of the Bank Economists Conference here today. The BPLR has no relation with the consumer lending rate and housing rates.

The bank has considered factors like cost of capital and risks while fixing the benchmark PLR, Leeladhar said.

The SBI Chairman A.K. Purwar said it was reviewing the lending rate and expects to announce a decision by mid-January.

ICICI Bank Managing Director and CEO K V Kamath said the interest rates seem to be bottoming out on both sides (lending and deposits side). The bank would announce its decision in this regard (benchmark PLR) later, he added.

“We are working on determining benchmark PLR by considering cost of funds and risks. We expect about 0.50 per cent cut in PLR which currently stands at 11.5 per cent,” said Syndicate Bank CMD M Bastian.

Uco Bank Chairman and Managing Director V P Shetty said the bank would decide the PLR rate in next seven-eight days. —
PTI

New Delhi, December 11
In another action which will go a long way in further improving relations between India and China, Air- India (A-I) today launched its first flight to Shanghai.

The bi-weekly flights on the Mumbai-Delhi-Bangkok-Shanghai sector will mark the burgeoning trade and economic exchanges between the two countries. The flights will depart every Thursdays and Saturdays to return a day later. China Eastern Airlines also flies twice a week from Beijing to Delhi — on Tuesdays and Saturdays.

“A-I’s presence in Shanghai and the commencement of its bi-weekly direct flights to Shanghai will promote trade as well as people to people contacts, particularly tourism,” Jitendra Bhargava A-I’s director public relations said.

The airline has deployed A310-300 with 181 economy and 20 executive class seats to ply on the route. Mr Bhargava said India and China will review their bilateral air services agreement in April or May next year to increase the number of flight frequencies.

Bilateral ties had received considerable fillip following Prime Minister Atal Bihari Vajpayee’s visit to China in June. India has been accorded “approved tourism destination” status by the Chinese government.

Jalandhar, December 11
Announcing the new year bonanza for BSNL mobile subscribers, Mr Prithipal Singh, CMD of BSNL, today revealed that the mobile subscribers of the company would get international roaming facility by the next month.

“As a new year gift to its subscriber, BSNL will provide international roaming facility to its mobile subscribers by the next month and tests have already been conducted,” he told reporters here today, adding that roaming facility in the north for pre-paid subscribers was also under consideration.

To promote fixed line connections more value-added services would be introduced, including SMS and broad-band facility.

New Delhi, December 11
Dupont India Ltd, manufacturers of ‘Algrip’, the lastest technology herbicides used for weeding out broad leafs from the wheat crop, today got a major relief from the Delhi High Court, which restrained another company from using similar sounding trademark ‘Higrip’ that could mislead its customers.

Algrip is vastly used by farmers in Punjab and Haryana to improve the wheat production.

Justice C K Mahajan restrained Hindustan Pulverising Mills, the rival company from using the trademark ‘Higrip’ by accepting the plea of Dupont that the identical sounding of the names was affecting its business.

Dupont also alleged that the rival company was selling its product almost in identical packaging, leading further confusion among buyers.

The court said till next date of hearing, the rival company would not use the trademark ‘Higrip’ or any other lebel, carton and literary material in its instruction material for popularising their product.

CORPORATE
NEWS

Pfizer to close Chandigarh plant

New Delhi, December 11
Pfizer Ltd has filed an application under Section 25 - O of the Industrial Disputes Act, 1947, with the Government of Maharashtra, for the closure of its bulk drug plant at Chandigarh from February 9 next.

The Chandigarh plant, which manufactures oxytetracycline hydrochloride, salinomycin - 350 mycelia and chloropropomide and has a workforce of 83 employees, is being closed down as its operations have become non-viable, Pfizer said in a statement.

It is the country’s first-ever fermentation plant, which began operations in 1961 for the basic manufacture of tetracycline and oxytetracycline.

The plant also produced bulk drugs like oxytetracycline and chlorpropamide for export purposes.

Besides, Pfizer India has another manufacturing unit at Thane in Mumbai for formulations. —
UNI

Plea on demerger of L&T cement unit

Larsen & Toubro has filed an application with the Mumbai High Court seeking directions to convene a meeting of the shareholders for approval of the scheme of arrangement for demerger of cement business. Earlier, Larsen & Toubros scheme of arrangement for the demerger of its cement business had been cleared by the stock exchanges. —
UNI

Surya Pharma IPO on December 18

Surya Pharmaceutical Ltd (SPL) will hit the market with a Rs 13.5-crore initial public offer (IPO) on December 18.

The pharma company will offer 30 lakh equity shares of Rs 10 each for cash at a premium of Rs 35.

The IPO proceeds will be used to meet working capital requirements and fund a project to set up infrastructure and machinery for its research and development facility, SPL Managing Director Rajeev Goyal told newspersons here today.

The shares of the company will be listed on the NSE and BSE with Systematix Corporate Services Ltd as the lead manager and Big Share Services Pvt Ltd as registrar. —
UNI

Decision soon on IOC, HPCL dividend

The Indianoil Corporation (IOC) and HPCL will decide on interim dividend by this month-end.

The Board of Directors of the IOC and HPCL will meet on December 26 to consider the declaration of interim dividend for 2003-04.

The IOC has fixed January 2, 2004, as the record date while HPCL has fixed December 30, 2003 as the record date for the dividend if it is declared. —
UNI

Models
pose for a photo session during a Press meet of'Tantavi 2003' — an exhibition on innovation in
handloom fabrics,in New Delhi Thursday.— PTI

HPMC inks export pact
Shimla, December 11
HPMC has entered an agreement with UA Agro Corporation for exporting apples and its various fruit-based products to Singapore and Dubai. Mr Singhi Ram, the Civil Supplies Minister, will formally flag off the first export consignment of apples from Parwanu tomorrow. —
TNS

Tantavi 2003
New Delhi, December 11
Textiles Minister Shahnawaz Hussain today launched the Tantavi 2003 exhibition at Pragati Maidan. Tantavi is based on fabrics and textures which has tried to showcase a complete range of handloom fabrics imbibing age-old traditions of classic-warp-weft combinations and imparting modern qualities of convenience. It was organised by the National Centre for Textile Design.—TNS

Airtel offerChandigarh, December 11
Airtel today announced a bonanza for its customers in Himachal Pradesh, with the “Poora Paisa Vasool” offer on both post-paid and pre-paid connections. Under the offer the new post-paid customer gets Rs 100 usage discount every month for the first five months. Likewise, the pre-paid customer gets Rs 50 bonus talk time for the first four recharges. —
TNS

ADB ups growth
New Delhi, December 11
The ADB today revised upwards its growth projection of Indian economy to 6.7 per cent in 2003 but cautioned that GDP was expected to grow by 6.3-6.4 per cent next year. ADB India’s chief economist, Sudipto Mundle, said at a press conference here. The country’s growth rate was expected to be lower at 6.3-6.4 per cent next year. —
PTI

Nestle-ColgateBrussels, December 11
The European Commission today approved the joint venture between Nestle SA and Colgate-Palmolive Co. to develop and market oral-care gums and lozenges. Financial details for the 50-50 joint venture weren’t disclosed. It will be active only in Canada, Britain and Ireland and plans to start operations in 2004. —
AP